Petrobras Receives $298 Million and Sells 11 Oil and Gas Production Concessions to Carmo Energy

Written by Paulo Nogueira

Published on 11/01/2024 at 01:15

Updated on 11/01/2024 at 10:10

A Carmo Energy comprou o ativo em dezembro de 2021, por US$ 1,1 bilhão. Foto: Governo de Sergipe – Todos os direitos: EPBR

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Divestment Program Includes Development Plan for Oil Production in Onshore Fields in the Carmópolis Pole.

Today, Petrobras announced that it has completed the receipt of US$ 298 million related to the sale contract of Carmópolis Pole (SE) to Carmo Energy. The amount includes adjustments and overdue charges due and represents the final installment of the sale agreement, which was due on December 20 of last year.

Carmópolis Pole is an important oil exploration field located in Sergipe. The sale to Carmo Energy is part of Petrobras‘ divestment and cost-reduction strategy aimed at strengthening its operations in other strategic areas. With the completion of the payment, the company reinforces its financial position and continues moving toward new challenges and growth opportunities.

Expansion of Carmópolis Pole by Carmo Energy

Carmo Energy acquired the asset in December 2021 for a significant amount of US$ 1.1 billion. According to information from Petrobras, a total of US$ 275 million was paid as a sign at the time, and the other US$ 548 million was disbursed in December of last year, closing date of the transaction.

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Paulo Nogueira

Carmópolis Pole encompasses a set of 11 concessions of onshore oil and gas production fields with integrated facilities located in the state of Sergipe.

Carmo Energy achieves an average of 6,000 barrels/day of oil in the pole, according to data from the National Agency of Petroleum, Natural Gas and Biofuels (ANP).

Petrobras Divestment and Development Program

The field was included in Petrobras’ divestment program during the government of Jair Bolsonaro.

Carmópolis is known as the largest onshore field in Brazil, with an original volume of 1.76 billion barrels of oil equivalent. In addition, it is the oldest in Sergipe, having started production in 1963.

In 2017, after reviewing the field’s development plan, Petrobras projected that the recovery factor could reach 32%.

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Petrobras Receives $298 Million and Sells 11 Oil and Gas Production Concessions to Carmo Energy

Divestment Program Includes Development Plan for Oil Production in Onshore Fields in the Carmópolis Pole.

Expansion of Carmópolis Pole by Carmo Energy

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Petrobras Divestment and Development Program

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